Mohanfromblr wrote:eternal wrote:I left my previous job from xxxx pvt ltd and I intend to use "Full and final financial settlement" from my previous company.
My period of earning is Oct2009-Sep2010. I have following Questions:
1.The medical portion of my salary is shown as "Medical reimbursement" in my Pay slip when paid to me in March2010. Can I use it as earnings?
2. I was given LTA+Medical reimbursement in Mar2010 and a fraction of it was given again (for remaining 6 months of current financial year) when I left xxxx pvt ltd. Both the payments reflect in my Salary slips/Full and final settlement/Bank Statement (but LTA only on ITR/Form16). The (LTA+Med) given to me in March2010 is for whole previous financial year of 09-10 but only 6 month of my claiming period overlaps with the previous financial year. My doubt is that should I show 100% of (LTA+Med) given to me (in Mar2009) as my earning? OR just 50% of (LTA+Med) OR 50% of just LTA if at all I can not use Medical
Someone with an idea, please assist!!
I can definetly help you as I faced the same situation. But lot of confusion is there in your Point No. (2).
As far as (1), yes, you can show Medical Reimbursement as your earning (as I did the same) as long as you provide 2 corroborative evidences.
Pay Slip + Bank Statement Combo, but ITR/Form-16 cannot be a part of corroboration as it won't clearly show a particular component.
As per (2), what I understood is that you would like to know whether you can claim LTA+Medical reimbursement amount for those months which do not fall in your 12 month earning period window. If thats the case then yes, you can claim because the item description in the payslip for the Month March,2010 is shown as LTA/Medical reimbursement but not for the months for which you are claiming and I am sure in this case because I have submitted March,2008's Payslip when I was applying for the first time.
In braces you mention (March,2009), thats the confusion, I read it as March,2010.
Also what about this that you have written:
"(but LTA only on ITR/Form16)"
If you cannot show corroborative evidence (Bank Stmt + Payslip), better forget about it. Else go to your financial department (just try to contact, make a trail) whether they can give a letter statement. Then if you have Bank statement, then they would corroborate.
Thanks a lot Mohan for your reply.
1)Yes, March2009 should be March2010 only..I made mistake while writing
2)About "(but LTA only on ITR/Form16)" part -
The LTA+Medical is mentioned in "Full and final settlement" document from company. Whatever net pay mentioned over there, the bank statement confirms that.
But only LTA is mentioned in Tax computation sheet (sorry.. i mentioned ITR/Form16..it is tax computation sheet as the financial yr is not over yet)
One Note:- its written just Medical without the word Reimbursement, on "Full and final settlement" document unlike it is "Medical Reimbursement" on March2010 payslip
So all the following things I had a query about, for them I have corroborative evidence (Bank Stmt + Payslip)
A- "LTA Taxable"+Medical Reimbursement" on March2010 payslip
B- LTA+Medical on "Full and final settlement" doc of Sep2010 (I have quoted these items word by word as they appear)
According to you I should go for claiming for both A and B.
But I still have doubts regarding "Medical Reimbursement". I had contacted a consultant firm (Opulentus), they advised (in general only) that Medical reimbursement cannot be claimed. Again someone in the forum posted that if it is not on Form16/ITR then it is not part of your earning.
These both suggest, one can not claim for Med-Reim.
Again I saw this post, which adds to my confusion
http://www.immigrationboards.com/viewto ... b945e10e8a
If I drop all the medical item..I just meet the HSMP points.. but as per above post, one's request can get rejected if one does not include all the items on payslip
. SUGGEST!
